michelle-armstrongby Michelle Armstrong

Many of you have emailed me wanting to know how you can survive the recession. While i’m no expert on these matters, I thought it might be helpful to share some of the action items my family and I are taking to ensure our survival. Give them a whirl. See if they work for you.

Tip #1 – Reduce Your Expenses

Make a list of all your expenses. Go through your list and eliminate any expense that’s not absolutely necessary to your survival. Then go through each expense you deem necessary and see if there’s a way you can cut that expenses down even further.

Tip #2 – Maintain a Positive Attitude

Worrying about whether or not you’ll still have a roof over head next week can be super stressful and can cause sleeplness nights. Try to avoid focusing on negative outcomes that haven’t even happened yet and instead visualize everything working out for the best.

Tip #3 – Work Together as a Family

Instead of getting angry and then taking that frustration out on the kids, wife or husband, try instead to work together as a team. Use this time as an opportunity to get closer to your family. Work together to reduce your debts and decide on non-costly rewards (a little late night nooky is always a good treat for the hubby or wife) when say, hubby finds a way to earn an extra few dollars this week, your wife turns last night’s left-overs into a gourmet meal, or when the kids agree to help out with household chores instead of you forking out dollars you don’t have to Molly Maid. (no offense to Molly Maid).

Use this recession as a time to strengthen your family unit not weaken it.

Tip #4 – Ditch Luxury Items. At Least Temporarily

If you’re anything like me and you like to get your hair and nails done once a month, whizz your car through the car wash each week or get a Starbucks treat on the way to work each morning, you might have to consider putting these luxury items on hold for a while -at least until you are back on your financial feet.

REMEMBER everything in life is temporary. The worm will turn eventually and you’ll soon be back at the nail salon sipping on a Latte. Get frugal my friends. Only dish out dosh for what is absolutely necessary.

Tip #5 – Speak to a Money Management Expert

If money matters aren’t your strong suit I highly recommend speaking with a money management expert. They have lots of great ideas for how to budget, cut corners and save your hard-earned dosh. We just met with our guy last week and discovered things we never would have thought of on our own.

Final tip: Remember that you get in life what you focus on and what you think about repeatedly you attract as your reality. You WILL get through this recession but you need to stay positive and you must keep moving forward.

To your success!

Michelle Armstrong

From Sarah – Michelle is such an amazing person. Her personal story of what she’s been through and how she’s come to teach others to get through and triumph over their problems is worth going to her site – ArmstrongMethod.com

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